HYDERABAD: The special court on Friday granted the Enforcement Directorate a nine-day custody of MBS Jewellers director Sukhesh Gupta for further questioning. The ED officials sought Sukesh’s custody for 14 days, but the court gave them nine days, from October 25 to November 2.
The ED, which is expected to take Sukesh into its custody on Saturday from Chanchalguda jail, said that it needed more time to extract additional details pertaining to violation of PML Act and FEMA and his links with Metals and Minerals Trading Corporation Ltd (MMTC Ltd).
The MBS Jewellers’ director is facing allegations of collusion with MMTC officials, cooking the account books and buying gold through fraudulent methods, causing huge loss to the Corporation.Sukesh Gupta, according to the ED sleuths, entered into an OTS (one-time settlement) with MMTC in 2019, to make good the loss caused to the Corporation, but failed to honour the agreement. He even submitted an affidavit in the court in this regard. Against this backdrop, ED wants to investigate the role of MMTC officials in helping Sukesh Gupta perpetuate the scam.
NEED MORE TIME FOR PROBE, SAYS ED
The ED, which is expected to take Sukesh into its custody on Saturday from Chanchalguda jail, said that it needed more time to extract additional details pertaining to violation of PML Act and FEMA